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Ethics in International Business SIEMENS BRIBERY SCANDAL

Ethics in International Business SIEMENS BRIBERY SCANDAL. When a public official accepts a bribe, he or she creates a conflict of interest. Officials cannot accommodate the interests of another party without compromising the responsibilities of her or his position.

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Ethics in International Business SIEMENS BRIBERY SCANDAL

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  1. Ethics in International Business SIEMENS BRIBERY SCANDAL

  2. When a public official accepts a bribe, he or she creates a conflict of interest. Officials cannot accommodate the interests of another party without compromising the responsibilities of her or his position. Siemens executives were heavily involved with bribery practices. Siemens had approximately 2,700 consultants worldwide. BRIBERY The offering, giving, receiving, or soliciting of something of value for the purpose of influencing the action of an official in the discharge of his or her public or legal duties.

  3. Siemens Power Generation, Inc. is one of the world’s leading specialists in engineering, manufacturing, constructing and maintaining major power generation equipment. SIEMEN'S HISTORY

  4. Executives were educated about how to remain profitable and distort competition. Corruption at Siemens was apparently deeply embedded in its business culture. Siemens used bribes to ensure keeping their business alive while maintain thousands of jobs. Senior executives made others responsible for managing bribery funds sign contracts stating they had not engaged in bribing activities. Siemens gained a large lump profit and longevity of its business by conducting bribes. Bribery was not illegal in Germany. Siemens believed that if they had not participated in bribery activities they would loss jobs, profits, and reputation of being a leading German electronics firm. SIEMENS ORGANIZATION INTERNAL STRENGHTS AND WEAKNESSES EXTERNAL OPPORTUNITIES AND THREATS

  5. Peter Loescher Klaus Kleinfeld TELLING SIGNS OF THE GUILTY PARTY Heinrich von Pierer German Government/ American Government (German Police) Reinhard Siekaczek

  6. The investigations found that Siemens has been involved in the misappropriation of hundreds of millions of Euros. CONFLICT IN THE WORKPLACE

  7. In late 2008, the SEC and Siemens reached a settlement after Siemens agreed to pay a hefty fine. Conflict Resolution

  8. THE END

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